Ownership Structure EQT 239.7 million EQGP Common Units EQGP Non-economic GP Non-economic General 90% Limited Partner Interest Partner Interest EQT Production EQGP EQGP Public Unitholders 21.8 million EQM Common Units…
Investment Highlights Premier Strong Assets in the Balance Sheet Marcellus & Targeting 1.5x Deep Utica 20% Annual Debt/EBITDA Distribution Growth at 82% of EQM Revenue from Capacity Reservation 1.5x EQM Charges Coverage…
Asset Overview Transmission and Storage Assets Overlay Prolific Nat Gas Plays Equitrans Transmission & Storage 4.4 Bcf/d current capacity 950 mile FERC-regulated interstate pipeline 45 Bcf of gas storage capacity Ohio Valley…
Asset Overview Marcellus Gathering Asset Map Pennsylvania Prolific Greene County, PA dry gas Terra 875 MMcf per day firm capacity for EQT 600 MMcf per day high pressure header pipeline for Range Resources Expected Q2 2017…
Growth Strategies Expand Supply Hub Connect Supply and Demand Leverage existing asset Extend network to connect footprint to expand supply hub to growing Marcellus/Utica supply hub demand markets Transmission capacity of 4.4 Assets…
Growth Strategy Supply Hub Marcellus / Utica to become dominant supply source in U.S. Marcellus/Utica Supply Growth* Assets Overlay Heart of Marcellus 50 40 30 Bcf/d 20 10 0 Transmission 2010 2015 2020…
Growth Strategy Supply Hub Sponsor a Leading Marcellus Producer Sponsor Highlights EQT Core Marcellus Areas EQT is a prominent Marcellus producer 27% sales volume growth in 2015 10.0 Tcfe total proved reserves* 400,000 net core…
Growth Strategy Supply Hub Upside potential from deep Utica volumes Deep Utica Growth Opportunity EQT Deep Utica Position EQT testing deep Utica opportunity Pettit 593066 Shipman 593894 Greene County, PA Greene County, PA 490,000…
Growth Strategy Extend Pipeline Network Ohio Valley Connector Overview Asset Map Provides Marcellus producers access to Midwest markets Provides Utica producers access to Equitrans transmission system Placed in-service Q4 2016…
Growth Strategy Extend Pipeline Network Mountain Valley Pipeline Overview Project Map Pipeline to growing natural gas demand market in southeast US 301-mile FERC-regulated pipeline 42 pipe diameter 3.0B-3.5B total project cost…
Distribution Growth EQM EQGP 1.5x coverage trailing 12- 1.0x target coverage 1.06 0.30 months 56% distribution growth in 2016 1.00 20% annual distribution 40%+ distribution growth in 2017 0.27 growth through 2017 0.94 0.24…
Stable Cash Flow Profile Revenues driven by capacity reservation charges under long-term firm contracts Stable cash flow supports visible distribution growth 16-year weighted average transmission contract life** Revenue Mix…
EQM Capitalized for Growth Targeting 3.5x Debt to EBITDA 1.5x current Debt to EBITDA Current ratings BBB- (S&P) BBB- (Fitch) Ba1 (Moodys) 1.5x distribution coverage ratio over trailing 12-months 17 *As of September 30,…
Investment Highlights EQM EQGP Strategically located assets Expected to be one of the in the rapidly growing fastest growing MLPs Marcellus & Deep Utica 56% distribution growth in Executing on growth 2016 strategy 40%…
EQM 2016 Guidance Net income: 510 - 515 million Adjusted EBITDA: 568 - 573 million Distributable cash flow: 515 - 520 million Expansion capital*: 660 million Ongoing maintenance CAPEX**: 25 million *Includes growth CAPEX…
Appendix
Growth Strategy EQT Production Growth Requires Significant Infrastructure Marcellus Production Driving Growth 2,200 Marcellus 2,000 2016E Annual Production Other Growth of 25% 1,800 1,600 1,400 MMcfe/d 1,200 1,000…
Appendix EQM Non-GAAP Reconciliation Non-GAAP Reconciliation ( thousands) Year-ended December 31, (Thousands) 2015 Year-ended Net income 393,450 December 31, Add: 2015 Interest expense 45,661 Net cash provided by operating…
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